BC-A.3.3
Past version: Effective from 01 Apr 2022 to 30 Jun 2022
To view other versions open the versions tab on the right
The most recent changes to this Module are detailed in the table below:
Summary of Changes
| Module Ref. | Change Date | Description of Changes |
| BC-4.1 | 01/01/05 | New minimum balance and charges regulations. |
| BC-4.7 | 01/10/05 | Streamlined notification requirements regarding new products. |
| BC-7 | 01/04/06 | Margin trading rules and guidance. |
| BC-A.1 | 10/2007 | New Rule BC-A.1.4 introduced, categorising this Module as a Directive. |
| BC-8 | 04/2008 | New conduct of business requirements for Investment Business |
| BC-4.9 | 04/2008 | New requirement to comply with Code of Best Practice on Consumer Credit and Charging. |
| BC-7.2 | 07/2009 | Removal of numerical restrictions related to margin trading requirement. |
| BC-8.5.17 | 10/2010 | Clarified the wording of Rule by replacing the term "legal" with "licensing". |
| BC-A.1.4 | 01/2011 | Clarified legal basis. |
| BC-1.1.13 | 01/2011 | Corrected reference to Ministry of Industry and Commerce. |
| BC-8 | 01/2011 | Changes made to reflect new definitions related to licensed exchange(s). |
| BC-1.1.11 | 04/2011 | Clarified retention period of records for promotional schemes. |
| BC-3.1.1 and BC-4.3.1 | 04/2011 | Minor amendments to clarify Rules. |
| BC-A.2.2 | 10/2011 | Added new Section to list of activities covered by this Module. |
| BC-4.7.3 | 10/2011 | Deleted Paragraph. Reduced notification requirements on new or expanded products and facilities. |
| BC-4.8.2 | 10/2011 | Updated name of Ministry of Justice and Islamic Affairs. |
| BC-4.10 | 10/2011 | Added new Section on transaction advice. |
| BC-8.11 and BC-9 | 10/2011 | Replaced Section BC-8.11 dealing with complaints and added Chapter BC-9 Customer Complaints Procedures in line with results of consultation and made it applicable to all regulated banking services. |
| BC-9 | 01/2012 | Minor corrections to correct typos and clarify language. |
| BC-9.3.9 | 01/2012 | Paragraph deleted as it repeats what is in Paragraph BC-9.3.7. |
| BC-6.1.6 | 04/2012 | Cross reference added. |
| BC-6.1.10 and BC-6.1.11 | 04/2012 | Rule clarified and split into one Rule and one Guidance Paragraphs. |
| BC-8.2.1 | 04/2012 | Corrected cross reference. |
| BC-1.2 | 07/2012 | Added Section on Advertisements for retail banking products and services |
| BC-4.3 | 07/2012 | Corrected cross reference. |
| BC-8.5.12A | 07/2012 | Added guidance to clarify promotion material from banks. |
| BC-9.1.3A | 07/2012 | Added guidance on the appointment of the customer complaints officer. |
| BC-1.1.2 | 10/2012 | Added cross reference to advertising requirements under Section BC-1.2. |
| BC-4.3 | 10/2012 | Section amended to reflect outcome of consultation on disclosure of interest/profit rate fees and charges by retail banks. |
| BC-4.8 | 10/2012 | Amended to make Rules clearer. |
| BC-6.1.2 | 10/2012 | Clarified process for applications for the installation of off-site ATMs. |
| BC-4.4 | 01/2013 | This Section was deleted and requirements are now covered under Section FC-1.6. |
| BC-1.2.2 | 04/2013 | Corrected cross reference. |
| BC-4.3.2 | 04/2013 | Clarified Rule on instances when customers must be kept informed of charges. |
| BC-8.9.14 and BC-8.9.16(e)(v) | 04/2013 | Clarified Rules on allocations. |
| BC-9.7 | 07/2013 | Additional details provided on reporting of complaints. |
| BC-4.2.15 | 10/2013 | Corrected cross-reference. |
| BC-5.3 | 10/2013 | Updated penalty charges on dishonoured cheques. |
| BC-6.3 | 01/2014 | Added new Section on local ATM network charges. |
| BC-4.11 | 04/2014 | Added new Section on donations to NGO accounts. |
| BC-4.12 | 10/2015 | Added new Section on credit check reports. |
| BC-A.2.2, and BC-10 | 04/2016 | Added new Section on Measures and Procedures for Services Provided to Disabled Customers by Bahraini retail banks. |
| BC-6.3 | 04/2016 | Amendment to local ATM charges. |
| BC-6.1.6 | 07/2016 | Deleted reference to Ministry of Interior. |
| BC-4.7 | 10/2016 | Clarified Rules on notification for new or changes to customer products and facilities. |
| BC-4.10.1 | 10/2016 | Amendment to Transaction Advice |
| BC-4.10.2 | 10/2016 | Deleted Paragraph |
| BC-7.2.5 | 10/2016 | Rectified term 'Credit Reference Bureau' |
| BC-5A | 01/2017 | Added new Section on Return Policy – Post-Dated Cheques |
| BC-10.1, BC-10.2 and BC-10.3 | 04/2017 | Amended Paragraphs to clarify applicability of Rules. |
| BC-5.3.1 | 07/2017 | Amended Paragraph to include penalty charges on returned cheques for the reason of Insufficient Funds. |
| BC-4.1 | 04/2018 | Deleted Section on "Minimum Balance and Charges on Savings Accounts". |
| BC-4.13 | 04/2018 | Added new Section on "Fees and Charges for Services Provided to Individuals". |
| BC-5.3.2 | 04/2018 | Deleted Paragraph on "Dishonoured Cheques". |
| BC-6.2 | 04/2018 | Deleted Section on "GCC ATM Network Charges". |
| BC-6.3 | 04/2018 | Deleted Section on "Local ATM Network Charges". |
| BC-4.14 | 10/2018 | Added a new Section on Fees and Charges for Services Provided to Companies under Formation. |
| BC-11 | 10/2018 | Added a new Chapter on Financial Advice Programme. |
| BC-4.3.22 | 01/2019 | Amended Paragraph on disclosure of charges by retail banks. |
| BC-4.3.24 | 01/2019 | Amended Paragraph on disclosure to individual customers. |
| BC-4.3.25A | 01/2019 | Added a new Paragraph on rounding off in transactions. |
| BC-4.13.2 | 01/2019 | Added a new Paragraph on waived fees and charges. |
| BC-4.15 | 07/2019 | Added a new Section on Interest on Credit Card Transactions. |
| BC-4.16 | 10/2019 | Added a new Section on Interest on Credit Facilities. |
| BC-6.1 | 10/2019 | Deleted Section. |
| BC-10.2.2 | 01/2020 | Amended Paragraph. |
| BC-4.17 | 04/2020 | Added a new Section on Blocking Customer Accounts. |
| BC-9.3.15 | 04/2020 | Amended Paragraph adding reference to CBB consumer protection. |
| 04/2020 | Amended Paragraph adding reference to CBB consumer protection. | |
| BC-9.7.1 - BC-9.7.3 | 04/2020 | Amended Paragraph adding reference to CBB consumer protection. |
| BC-B | 10/2020 | Added a new Chapter on Provision of Financial Services on a Non-discriminatory Basis. |
| BC-4.18 | 10/2020 | Added a new Section on Fund Transfers by Customers of Payment Service Providers (PSP). |
| BC-4.19 | 04/2021 | Added a new Section on ‘Merchant Fees on Payments to Zakat and Charity Fund’. |
| BC-1.2.1 | 07/2021 | Deleted Paragraph. |
| BC-1.2.2 | 07/2021 | Deleted Paragraph. |
| BC-4.3.6 | 07/2021 | Amended Paragraph. |
| BC-1.1 | 01/2022 | Added new enhanced Section on Promotions. |
| BC-1.2 | 01/2022 | Added new enhanced Section on Advertisements. |
| BC-4.20 | 01/2022 | Added a new Section on Dormant Accounts and Unclaimed Balances. |
| BC-11.1.3 | 01/2022 | Deleted Paragraph. |
| BC-2.8.2 | 04/2022 | Deleted Subparagraph (b). |